Partner Center Find a Broker

…dare I say potentially short-lived risk appetite??

Today, after what is looking like a very bullish open and a bad day for the dollar, I wanted to reexamine the uptrend in crude oil and if the aussie and loonie would follow that strength or if today’s price action was going to be more about the dollar’s weakness.

Thus far, into what has been a very strong day for the U.S. equities, my opinion remains the same: A strong holiday weekend of shopping (record-breaking actually) and bullish headlines (read: optimism) from Europe have fueled risk appetite…today.

The EUR/USD is far from any kind of downtrend transition, and arguably, the momentum (for today) has played out and is already exhausting. A confirmation of that was the 240-minute 34EMA Wave remaining unbroken as the EUR/USD climbed.

Follow me on Twitter and Facebook!

This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.